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Who Is Satoshi Nakamoto? The FBI Might Know the Identity of the Bitcoin Creator - Journalist
Aug 30, 2024
The hunt for Satoshi Nakamoto, Bitcoin's enigmatic founder, has taken a new turn. Fresh revelations from the FBI have sparked renewed interest in the cryptocurrency mystery. Investigative journalist Dave Troy filed a Freedom of Information Act (FOIA) request. He wanted any FBI records on Satoshi Nakamoto. The request covered all FBI offices and facilities. Troy's FOIA appeal was broad. He asked for "any and all records pertaining to Satoshi Nakamoto". This included documents that might label Nakamoto as an individual, group, or even a government entity. The FBI's response was cryptic. They referred to Nakamoto as a "third party individual". This term is often used for foreign nationals by US intelligence agencies. It hints at possible knowledge while maintaining ambiguity. Troy shared his thoughts on social media platform X. "FBI doubles down on its assertion that 'Satoshi Nakomoto' ... is a 'third party individual,'" he noted. This response, he said, is typical when asking about foreign nationals. The journalist expressed concern about the FBI's interpretation. He suggested two possibilities: either the FBI knows Nakamoto's identity and won't confirm, or the FOIA office misunderstood his request. The FBI used a "Glomar response". This legal tactic neither confirms nor denies the existence of records. It's often used when national security or privacy is at stake. This isn't the first attempt to unmask Nakamoto through official channels. In 2018, Motherboard writer Daniel Oberhaus faced similar roadblocks. He requested emails containing Nakamoto's name from both the FBI and CIA. Meanwhile, Bitcoin ETFs are gaining ground. Bloomberg ETF analyst Eric Balchunas pointed out that US spot Bitcoin ETFs now hold about 921,540 BTC. That's close to Nakamoto's estimated 1.1 million BTC stash. "US spot bitcoin ETFs now have 84% of the Bitcoin that Satoshi has," Balchunas said. At this rate, they could surpass Nakamoto's holdings by Halloween. The saga continues. The FBI's tight-lipped response has only added fuel to the fire. As Bitcoin's influence grows, so does the intrigue surrounding its creator. Will Satoshi Nakamoto ever step out of the shadows? For now, it's anyone's guess.
Satoshi Nakamoto Still a Ghost: FBI Will ‘Neither Confirm Nor Deny’ the Existence of Bitcoin's Father Records
Aug 13, 2024
The FBI has given a standard "Glomar response" to a journalist's request for info on Satoshi Nakamoto. They won't confirm or deny having records on Bitcoin's creator. Investigative journalist Dave Troy shared this development on X on August 13. The FBI's response hinted that Satoshi might be a "third party individual". Troy plans to appeal the decision. He's not after Satoshi's identity. He just wants to know what the FBI has on the subject. Satoshi's true identity has been a hot topic since 2008. That's when the Bitcoin whitepaper dropped. No one's cracked the code yet. Some reckon it might be Hal Finney, an early Bitcoin contributor. Finney passed away in 2014. Troy thinks if the FBI thought Finney was Satoshi, they'd have no issue releasing his file. This isn't the first time the FBI's played hard to get. A similar request in 2018 got the same non-answer. Craig Wright, the Aussie computer scientist, has long claimed to be Satoshi. But he might be in hot water now. He could face perjury charges in a UK court for his statements. In a plot twist, Wright recently slapped a legal disclaimer on his website. It says he's not Satoshi. This comes after eight years of saying he was. We know next to nothing about the real Satoshi. Their P2P Foundation profile suggests an April 5, 1975 birthday. Go figure. The last we heard from Satoshi was in 2011. They told developers they'd "moved on to other things". Talk about ghosting an entire community. So, the Satoshi mystery continues. The FBI's tight-lipped response has only added fuel to the fire. It's got the crypto world buzzing again as we will probably never calm down about the fact we don't know the identity of the man who is responsible for all that crypto hysteria.
Bitcoin Failed As Electronic Cash, But Triumphed As Gold Alternative - Sorry, Satoshi
Jun 15, 2024
Sorry, Satoshi Nakamoto, we have failed you. On-chain data suggests Bitcoin is no longer being used as electronic cash. Most users see it as an equivalent of 'digital gold'. According to CryptoQuant founder Ki Young Jum, Bitcoin’s circulation has recently slowed down. The velocity of the token, which shows how is the crypto circulating the market, speaks for itself. Most of the Bitcoin on the market spend time sitting tightly in the wallets of their owners. There was a time when Bitcoin velocity kept rising. For instance, during the 2021 bull run. So it seemed as if Satoshi Nakamoto was right in his predictions. The peak of that velocity was reached in the middle of 2022. it coincided with the flourishinf of the bear market. But since then Bitcoin velocity has been only falling, Ki Young Jum states. As of now, the velocity indicator has reached its lowest for the last 13 years. In other words, today's BTC circulation rate is the same as in 2011. Back then no one basically knew what Bitcoin was. Nowadays, it is considered as one of the most promising financial instruments. Yet, nobody is actually using it. Seems like people have forgotten what Satoshi created Bitcoin for. We see is as an asset rather than a decentralized currency for everyday use. Yes, Satoshi's vision was simple. Bitcoin was originally meant to be cash in electronic form that works peer-to-peer. That would eliminate the need for any central entity like banks. But what we see is suggesting Bitcoin missed the target completely. Instead of becoming 'digital cash' it has become 'digital gold'. That implies no frequent transactions and erevyday use for most of the users. Some analysts say that the arrival of institutional investors to the scene this year is going to finalize this transition. Bitcoin ETFs will suck in a significant portion of existing BTC eventually. As well as companies like Michael Saylor's MicroStrategy that keep buying Bitcoin only to hold it for a long period of time.
UK Court Calls Craig Wright a Liar. It Means We Still Don't Know Who Satoshi Nakamoto Was
May 20, 2024
No, we still don’t know who the mysterious Satoshi Nakamoto was. Hence, Craig Wright’s long-term show doesn’t prove to be effective. In a twist that could only come from the world of cryptocurrency, Craig Wright's claim to being Satoshi Nakamoto has been struck down by a UK court, Coindesk reports. The judge ruled that Wright had "lied extensively and repeatedly," casting further doubt on his assertions of being the elusive creator of Bitcoin. This ruling adds another layer to the already complex saga of who truly invented the world's first cryptocurrency. Wright, who has long maintained that he is Nakamoto, faced serious scrutiny in court. His inconsistencies and falsehoods were laid bare, making his case even more dubious. The judge's comments were scathing, underscoring the extent of Wright's deceit. For a man claiming to hold the keys to Bitcoin's origins, his credibility has taken a significant hit. The irony here is palpable. In a market built on trustless transactions, the quest for trust in Nakamoto's identity continues unabated. The crypto community remains in the dark, left to wonder if the real Satoshi is out there, watching these courtroom dramas unfold with a bemused detachment. This ruling doesn't just affect Wright; it has broader implications for the cryptocurrency world. Trust and authenticity are paramount, and when a prominent figure is exposed as a fraud, it shakes the foundation of the market. Investors, already cautious, now have another reason to tread carefully in the murky waters of crypto. Bitcoin, meanwhile, remains unscathed by the revelations. Its value, driven by market forces and speculation, stands apart from the personal dramas of those who claim to have birthed it. The decentralized nature of Bitcoin ensures that no single individual, no matter their claims, can significantly impact its trajectory. The true identity of Satoshi Nakamoto remains one of the greatest mysteries of our time. With Wright's claims debunked, the enigma only deepens. The question of who created Bitcoin is still unanswered, leaving room for more theories, more debates, and undoubtedly, more court cases. In the end, the crypto world continues to thrive on its own terms. The search for Nakamoto might be a captivating subplot, but the main story is Bitcoin's resilience and growth. Craig Wright may have lied, but Bitcoin's truth endures.

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Who Is Satoshi Nakamoto? 10 Craziest Theories on Bitcoin's Enigmatic Creator
Bitcoin
Jun 18, 2024
Bitcoin has brought enough change to the world for his creator to become a legend. Who is Satoshi Nakamoto and will we ever find him? And does the CIA have anything to do with it? Satoshi Nakamoto might one day be awarded a Nobel Prize for Bitcoin. Of course, if he ever shows up. Because, you know, these prizes are never awarded anonymously. The fact that in the age in which it is extremely hard to be anonymous, the identity of the Bitcoin creator is unknown tells a lot. No wonder there are plenty of theories about who Satoshi Nakamoto is or was. Some of them are very well reasoned. Some are just preposterous. But still the Bitcoin itself is such an extraordinary revolution that nothing related to it should be approached with ordinary standards. Let’s take a look at some of the most wild theories about who Satoshi Nakamoto is. Satoshi Nakamoto created Bitcoin - what do we know for sure Thirteen years ago a person or group of people using the name Satoshi Nakamoto released a paper describing a new software system called Bitcoin. Bitcoin has sparked a phenomenon that, its proponents believe, might rewire the entire global finance. Today Bitcoin is worth more than $1 trillion. Plenty of competitive cryptocurrencies have appeared. Apart from cryptocurrencies, Blockchain has lit the way for blockchain technologies. Blockchain is now widely adopted in many fields that are not related to finance. NFT (non-fungible token) is also a product of the blockchain technology. And the arising Metaverse is something that can be hardly imagined without blockchain or cryptocurrencies. So how come we still do not know who invented Bitcoin? Who actually is Satoshi Nakamoto? His public life was pretty short. Here is the list of things he had done before he vanished. The public life of Satoshi Nakamoto On Oct. 31, 2008, Satoshi Nakamoto sent a paper to a group of cryptographers. It contained just nine pages outlining a new form of “electronic cash”. This is when the name Bitcoin first appeared. At the time nobody asked questions about Satoshi Nakamoto’s identity. On Jan. 9, 2009, Satoshi Nakamoto launched the Bitcoin network. A few cryptographers helped him remotely to get the network running. The first Bitcoin transaction went from Satoshi Nakamoto to one of those scientists. December, 2010, Satoshi Nakamoto stopped posting publicly. He had published messages on forums and exchanged private emails with the Bitcoin developers until he passed leadership of the project to a software developer Gavin Andresen. None of Satoshi Nakomoto’s messages ever mentioned anything personal. All of them have been thoroughly analyzed since then, but there aren’t any clues to who Satoshi Nakamot is. Everything he ever wrote was about bitcoin and its code. It is impossible to find out who registered the website that Satoshi Nakamoto was using to promote his ideas to developers. Two email addresses his letters came from also vanished. One possible clue to Satoshi Nakamoto’s identity might be hidden in his personal wallets. Yes, Satoshi Nakamoto disappeared having mined over 1 million BTC. These coins have not moved yet. Today those BTC are worth about $55 billion. That would make Satoshi Nakamoto one of the 30 richest people in the world. He actually could have bought Twitter instead of Elon Musk, if he wanted. Whoever moves these tokens now would probably be Satoshi Nakamoto. What is the reason for Satoshi Nakamoto to hide his real identity? In the early years, members of the cryptocurrency community assumed that Satoshi Nakamoto remained anonymous mainly out of fear. He could be afraid of getting arrested or something. It was yet to be seen if Bitcoin would be widely accepted and not approached as something illegal and criminal. Who is Satoshi Nakamoto? What are the most relevant theories? Over the years many people were pegged as “the real Satoshi Nakamoto”. At the same time many people have voluntarily claimed to be him. And in all the cases there was not enough evidence. Who is Satoshi Nakamoto if not Dorian Nakamoto? Dorian Nakamoto, who graduated in physics from California Polytechnic and worked on classified US defense projects, is a Japanese-American scientist. He clearly showed libertarian leanings, just as Satoshi Nakamoto in his papers. This version seems to be the most reasonable. Even Newsweek claimed Dorian Nakamoto to be “that Nakamoto”. Back in 2014, the magazine made the first high-profile attempt to reveal the identity of Bitcoin's founder. That was a clear sign that Bitcoin was going mainstream. But Dorian Nakamoto denied the claim. He told media he had nothing to do with Bitcoin. Hal Finney was Satoshi Nakamoto? One of the earliest theories claimed that the answer to the question of who Satoshi Nakamoto is was pretty obvious. Hal Finney, a cryptographer who worked with Satoshi closely in the early days of Bitcoin, was the first suspect. Satoshi Nakamoto allegedly made his first Bitcoin transfer to Finney. Why wouldn’t we assume that there was no mysterious Bitcoin creator with Japanese roots? Maybe Hal Finney is Satoshi Nakamoto? Finney denied such allegations. He died in 2014, so even if he was Satoshi we will probably never find out. And those $55 billion will remain untouched forever. Gavin Andresen is Satoshi Nakamoto? Andresen is alive and has always denied any possibility for him to be Satoshi Nakamoto. There hasn’t been evidence to prove otherwise. The main reason why people keep thinking of Andresen while trying to answer the question “Who is Satashi Nakamoto” is that Andresen is the person responsible for Bitcoin development in 2011-2012. Exactly when Satoshi was already absent. Andresen became “core maintainer” and chief developer of the open source code that defines the rules of Bitcoin. He used Satoshi Nakamoto’s legacy and diligently worked full-time on the Bitcoin code for years. Andresen conceived the nonprofit Bitcoin Foundation which is now the closest thing to a central authority in the world of Bitcoin. He denied the claim that he was Satoshi Nakamoto. But many people think that even if he isn’t the mysterious creator of Bitcoin he might still know who Satoshi Nakamoto is. Nick Szabo is Satoshi Nakamoto? Nick Szabo is a computer engineer who had actually worked on something very much like Bitcoin years before Satoshi Nakamoto appeared. He conceptualized a decentralized currency he called Bit Gold. It has some obvious resemblance with Bitcoin. And he proposed an idea of smart contract in 1996. No wonder many experts started seeing a possibility for Szabo to be Satoshi Nakamoto. In 2014, a group of researchers at Aston University in Birmingham, England, carried out a linguistic analysis of all the correspondence of Satoshi Nakamoto in the early days of Bitcoin. The researchers concluded that Szabo was most likely to be Nakamoto. Szabo has denied the claim. No other evidence to that theory has ever been published. Elon Musk mentioned Szabo in one of his interviews as a possible candidate for the role of Satoshi Nakamoto. He claimed Szabo was “more responsible for the ideas behind Bitcoin than anyone else.” Craig Wright is Satoshi Nakamoto? This is a more interesting story. Craig Wright is an Australian programmer who lives in London. In 2016 he claimed to be Satoshi Nakamoto. The Bitcoin community did not give him a warm welcome. His claims were quickly rejected. Wright was eager to stand with his claims. He even pledged to prove he was Nakamoto by moving some of those early bitcoins. He also sued some media who tried to announce his claims false. Yet to this date, he hasn’t done anything that could make us believe he actually is Satoshi Nakamoto. Even the British judge ruled that Craig lied about being Bitcoin creator. Dave Kleiman was, well, a part of “Satoshi Nakamoto”? Wright’s story seems a bit more intriguing when you remember the Florida lawsuit. Wright himself was sued by the family of his deceased colleague named Dave Kleiman. The suit claimed that Wright actually had been developing Bitcoin together with Kleiman. And as a result of this business partnership Wright owed Kleiman’s family half of those Bitcoins they had mined. There was a trial process, almost Hollywood alike. But the jury found no evidence that Wright and Kleiman were Bitcoin creators, separately or jointly. Could Elon Musk be Satoshi Nakamoto? That might be one of the weirdest ideas ever. But still some people think Elon Musk could have something to do with Bitcoin development. The theory has been around for years. However, Musk has denied these allegations. His direct answer to one of his Twitter followers points to a fact that Musk does not own any BTC. Of course, putting Musk in charge of literally everything now is quite trendy. Recently a theory has been announced that claims Elon Musk and Vitalik Buterin are responsible for Shiba Inu. Seeing Musk as Satoshi Nakamoto is something any of his true fans is eager to do. Musk is a genius, right? He put us all into electric cars, he is about to send humanity to Mars. Why couldn’t he also invent the revolutionary cryptocurrency? But no matter how attractive this idea might seem, we have absolutely no evidence for it whatsoever. Who is Satoshi Nakamoto? Nothing but a puzzle! Well, that’s another wild theory. Years ago some people supposed that Satoshi Nakamoto might be a group of people actually hiding behind that name. If the theory is true, the name Satoshi Nakomoto might not mean anything at all. For instance, it could have been taken from the phone book. Or it may be a puzzle. What if people from that mysterious group of thinkers not only created Bitcoin but also tried to tell us something with that strange name? Could “Satoshi Nakomoto” be just a puzzle? Well, if it is. What does it tell us? At the moment, there are two quite wild theories about that puzzle. According to the first of them, in Japan names are presented by surname first. So we need to write it as Nakamoto Satoshi. If you take a Japanese dictionary and look up the word Nakamoto you will find it means “central origin”. Looking up the word Satoshi gives us “wise” or “clear thinking”. You could also derive the word “intelligent” from it. So adding a little imagination could easily lead you to assume that Satoshi Nakamoto is Central Intelligent. Which basically means we are talking about the CIA. Another conspiracy theory shows that Satoshi Nakamoto could have been a corporate consortium. The name Satoshi Nakamoto, in this theory, derives from these four names: SAmsung, TOSHIba, NAKAmichi MOTOrola.
The bullish brigade: 10 high-profile Bitcoin optimists and their most dire predictions
Bitcoin
May 31, 2024
Some people just can’t stop telling us that Bitcoin’s next incredible peak is literally just around the corner.  Bitcoin, the pioneer of cryptocurrencies, has been a topic of heated debate since its inception in 2009. While some dismiss it as a speculative bubble, others hail it as the future of finance.  Amidst the cacophony of opinions, there are notable optimists who stand firm in their belief that Bitcoin will revolutionize the financial landscape.  Let’s delve into the reasons behind Bitcoin's volatility, the varied predictions for its future, and highlights ten high-profile optimists who have made bold predictions about Bitcoin recently. Why predictions vary so much But firstly let’s try to understand why Bitcoin provides so much basis for a wide variety of predictions. The legendary volatility of Bitcoin Bitcoin's price swings are legendary. One day it’s hailed as digital gold, the next, it’s branded as a speculative bubble.  Several factors contribute to this volatility: Market Sentiment: News, both good and bad, can cause drastic price changes. Regulatory news, technological advancements, and macroeconomic factors all play a role. Liquidity: Compared to traditional assets, Bitcoin has lower liquidity. Large trades can significantly impact its price. Speculation: A significant portion of Bitcoin trading is speculative, leading to rapid price swings. Regulatory Environment: Uncertainty around regulatory policies globally adds to the volatility. Market Maturity: As a relatively new asset class, Bitcoin is still finding its footing, leading to instability. Reasons why some believe Bitcoin might rise The prophets of Bitcoin's rapid and explosive growth are not optimistic out of the blue. Their conviction is based on a number of factors that were originally mentioned by Bitcoin's legendary founding father Satoshi Nakamoto. Here are those few crucial factors: Scarcity: With a maximum supply of 21 million coins, Bitcoin's limited supply could drive up prices. Institutional Adoption: Increasing interest from institutional investors lends credibility and stability. Hedge Against Inflation: Seen as digital gold, Bitcoin is considered a hedge against fiat currency devaluation. Technological Innovation: Improvements in blockchain technology and increased use cases boost confidence. Growing Acceptance: More merchants and platforms accepting Bitcoin as payment add to its legitimacy. Network Effect: As more people use Bitcoin, its value and utility increase. Decentralization: Lack of central control makes it appealing in a world of mistrust in traditional financial systems. Public Awareness: Greater understanding and media coverage drive interest and investment. Global Reach: Bitcoin is accessible worldwide, providing financial services to the unbanked. Resilience: Despite numerous challenges, Bitcoin has survived and thrived, demonstrating its robustness. Ten high-profile predictions for Bitcoin In the last year alone, many famous personalities have regaled us with a whole set of sparkling predictions about the future of Bitcoin. Jack Dorsey The co-founder of Twitter and Square remains a steadfast Bitcoin advocate. Sometimes he predicts that Bitcoin will become the world’s single currency within a decade. Sometimes he just names the number Bitcoin price will reach. Last time it was $1,000,000. Dorsey’s companies have invested heavily in Bitcoin, signaling his long-term confidence. Robert Kiyosaki The author of "Rich Dad Poor Dad" believes Bitcoin will hit $500,000 by 2025. Kiyosaki views Bitcoin as a hedge against economic instability and a critical component of financial literacy. Cathie Wood CEO of ARK Invest, Wood predicts Bitcoin could reach $500,000 by 2026. She argues that increased institutional adoption and Bitcoin’s role as a hedge against inflation will drive this growth. Michael Saylor CEO of MicroStrategy, Saylor has led his company to acquire over 100,000 Bitcoins. He forecasts Bitcoin reaching $1 million within five years, citing its superior store of value properties compared to gold. Tim Draper The venture capitalist maintains his prediction that Bitcoin will reach $250,000 by the end of 2024. Draper highlights Bitcoin's increasing adoption and its potential to transform several industries. Tom Lee Co-founder of Fundstrat Global Advisors, Lee believes Bitcoin could surge to $200,000 in the next few years. He points to macroeconomic factors and growing institutional interest as key drivers. Raoul Pal Former Goldman Sachs executive and founder of Real Vision, Pal predicts Bitcoin could hit $1 million by 2030. He emphasizes Bitcoin’s potential to become the global reserve asset. Anthony Pompliano Co-founder of Morgan Creek Digital, Pompliano forecasts Bitcoin reaching $500,000 by 2025. He bases his prediction on the exponential growth of Bitcoin’s adoption and its fixed supply. Mark Yusko CEO of Morgan Creek Capital Management, Yusko projects Bitcoin will hit $400,000 over the next decade. He believes Bitcoin's market cap will surpass gold's as it becomes a primary store of value. Mike Novogratz Founder of Galaxy Digital, Novogratz predicts Bitcoin will reach $500,000 by the end of 2024. He attributes this to increasing institutional investment and Bitcoin’s fixed supply limiting inflationary pressures. Conclusion The future of Bitcoin remains a hotly contested topic, with significant variation in predictions even among its staunchest supporters.  However, the high-profile optimists outlined above provide a compelling case for Bitcoin’s potential to achieve remarkable valuations.  Each of these optimists brings a unique perspective to the potential future value of Bitcoin, often combining a mix of economic insight, technological passion, and sometimes, a good dash of wishful thinking. Their bullish forecasts share a common thread: a firm belief in Bitcoin's transformative potential—a true digital gold rush in the making. Whether Bitcoin will fulfill these lofty expectations remains to be seen, but its journey will undoubtedly continue to captivate the financial world.

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